DYING WITHOUT A WILL
A will is a document that explains what your final wishes are pertaining to property, who the guardian of your children would be and other important ownership after the passing of the individual. Without this, your entire family would have to deal with all the decisions with who gets what which is already difficult and many cases that aren’t cheap. A will is very important to make things organized and less strain on everyone in the family tree. Look at frequently asked questions for more important information related to this topic and to see how important it is to get a will.
What You Can Do
Things you should provide is to assign an executor and a trustee. Put any accounts like investments, bank information, etc on the Will and assign to who obtains it. You need to also make sure you have guardianship if you have children to other guardians who you are close with. Also ask what type of healthcare you want and other information for your lawyer to get the best service.
With all these things that secure safety of everything you list on the Will, your family can have an easier time with going through any conflict that could of happened if you didn’t prepare a Will. It’s only a few fees towards the lawyer but all worth it for a less strain experience.
FAQ:
1. Where can I store my will?
You should store the will in a kind of file cabinet or a safe but should be fireproof in case of a possible fire within the estate. You would have all the documents you need to save your money from this sort of incident. A safe deposit box should be avoided because your bank can limit access to the account after your death. At least one person you trust should know where your will is or file it with the Register of Wills but will hold them responsible as a representative unless announced in the will itself. Most important is that the will must be in an envelope.
2. Who may be appointed to handle an estate proceeding?
In a will, it’s whoever the executor is, but if there is no will, a person who qualifies to be responsible will serve as an administrator. Then either executor or administrator will handle the estate proceeding.
3. How does the Executor admit a will to probate?
The executor must file the will and a legal copy of the decedents death certificate with the probate petition. Any other related documents pertaining to the former owner’s residence. With all this there is a filing fee and the total sum depends on the size of the estate.
4. Should I make a copy of my Will?
Do not make more than one signed and witnessed original of your will. You may, however, give an unsigned copy to your proposed personal representative and your spouse, friends or children.
5. How do I get a copy of a death certificate?
You can get your death certificate either at the funeral director, the Vital Statistics/Death Records Department in the district of death, or you can even contact someone in the Department of Health.
6. Can an irrevocable trust be amended?
One thing you can do by is to remove assets you’ve written within the trust. You will still have the trust on file but it’ll be one that is empty. There’s also booking an appointment with the court through a trustee since he or she is responsible for making any adjustments as well in the trust even if it’s irrevocable. As long as there’s a good reason for the modification.
7. How long do you have to work to collect unemployment in NY?
According to the official ny.gov website, you need to be working for at least a month and in file at least $2,700 in wages.Your base period also needs to be higher than your quarter wages.
8. Should my spouse and I file a joint tax return?
When filing a joint tax return you have an easier time with filing taxes and you have a deduction of fees included. With separate accounts you and your spouse would have to do your own paperwork. With a joint tax return things would be much easier and you can save money.
9. Can I collect unemployment if I go to school?
To receive unemployment you need to document that you’re looking for work and enrolled in school to receive some benefits.
10. Where Do I Keep My Will?
You should store the will in a safe but should be fireproof in case of a possible fire within the estate. You would have all the documents you need to save your money from this sort of incident. A safe deposit box should be avoided because your bank can limit access to the account after your death. At least one person you trust should know where your will is or file it but will be responsible as the representative unless announced in the will itself. Most important is that the will must be in an envelope.
